Guardant Health price target lowered to $65 from $99 at Canaccord

Canaccord analyst Kyle Mikson lowered the firm’s price target on Guardant Health to $65 from $99 and keeps a Buy rating on the shares. The analyst said , the company announced results from its ECLIPSE study for its colorectal cancer (CRC) screening assay, Shield. Although early cancer detection was well below expectations and overall CRC sensitivity was also below the investor "bogey" of 85%, he doe not believe the study was a failure and he remains constructive on the long-term adoption for the Shield test in CRC.